Blockchain was originally developed to prevent fraud in digital currency exchanges. But fast forward to 2018, and many industries are finding that blockchain serves endless protective and even disruptive use cases for their businesses—ones that could change processes and wipe out both fraud and “the middle man” altogether. Let’s take a look at how businesses can combat fraud with blockchain.
Hello, Smart Contracts—Goodbye, Old School Escrow?
If you’ve ever purchased a house, you know how taxing the escrow and underwriting process can be. Every other day, you’re sending proof and more proof of where your money has been, where it’s going, and where it came from. With blockchain, both old school escrow and underwriting may be a thing of the past. What’s more, online buying and selling of just about anything could become an even bigger industry.